Owing rent, hide in a different state (2,3,3)

I believe the answer is:

in the red

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'owing' is the definition.
(I've seen this in another clue)

'rent hide in a different state' is the wordplay.
'rent hide' anagrams to 'IN THE RED'.
But, I'm not sure how the anagram is indicated.

Can you help me to learn more?

(Other definitions for in the red that I've seen before include "Santa appears thus" , "have no credit" , "Colourfully in debt to the bank" , "Indebted" , "needing cash injection" .)

I've seen this clue in The Times.

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